- A crypto pundit predicts Cardano could exceed $1 by December, with the potential to reach $5-$10 later.
- Cardano’s infrastructure advancements make it stronger, signaling a bullish trend for the next market cycle.
With well-known crypto pundit Dan Gambardello making a bold future projection for Cardano (ADA), the instrument has attracted a lot of interest recently.
In a tweet, Gambardello said Cardano might quickly rise past the $1 mark between now and December 2024, which would surprise many investors. Driven by a convergence of technical events lining up in its favor, he thinks the coin is about to breakout.
Cardano can easily be back above $1 between now and December, and some people will be flabbergasted.
It can happen fast.
Then $5- $10 ADA will finally look more realistic to them.
— Dan Gambardello (@cryptorecruitr) October 6, 2024
Cardano Market Setup Mirrors 2020�?021 Surge
Based on past market behavior, Gambardello’s projection makes analogies to ADA’s performance in the 2020�?021 cycle. Cardano had a great surge back then, rising from $0.09 to an all-time high of $3.10 inside a year. The analyst claims that the present market structure reflects those conditions and indicates a similar upward trend.
Six months of Cardano’s recent consolidation phase follow the pattern of past cycles, which fuels anticipation of a significant comeback. He claims that Cardano’s upgrades in infrastructure—including improved Layer 1 security and Hydra scaling—position the altcoin even more favorably than in past runs.
Apart from exceeding the $1 milestone, Gambardello estimates Cardano might surge to between $5 and $10 in the not too distant future.
He emphasizes that, usually followed by altcoin rallies, the major crypto market is almost finished in its post-halved consolidation phase. Should this trend hold true, ADA may see a quick break-through as investors would rush in once they sense its promise.
There are risks even with the positive view. Before any significant increase, Gambardello warns, more consolidation might take place.
To determine ADA’s next actions, he also emphasizes the need for tracking important technical levels as the 50-week and 20-week moving averages. The coin needs to break through resistance levels around $0.38 and $0.42 if it is to start its expected bull run.
Although Gambardello is still optimistic, his more cautious attitude in recent market action reflects that. Meanwhile, ADA has suffered slight decreases; the price right now is $0.3374, down 1.33% over the last 24 hours. Under pressure as well, the larger cryptocurrency market has seen corrections that help to explain ADA’s recent decline.
On another level, Cardano is also advancing practical uses. Previously, CNF noted that a 10,000 ADA (around $3,400) loan contract executed on the Cardano blockchain was legally binding and would be repaid over four months.
This creative application of the blockchain is considered a step toward building positive jurisprudence in Argentina, a development that would open the path for more general acceptance of Cardano in the legal and financial sectors.
